European Stocks Advance as ECB Lowers Interest Rates

European stocks rose to a seven-week high as the European Central Bank lowered its benchmark interest rate, while companies from Royal Dutch Shell Plc to Bayerische Motoren Werke AG posted profit that beat analysts’ estimates.

Royal Dutch Shell Plc advanced to its highest price in three months in Amsterdam after saying earnings from refining and marketing rose because of higher processing margins. BMW gained 1 percent. Statoil retreated the most in almost a year after reporting lower oil and gas production in Norway. Danske Bank A/S declined the most in six months after saying that low interest rates have caused net interest income to decline.